InsUReka Innovation Challenge

About

The InsUReka Innovation Challenge invites startups to develop innovative solutions for the life insurance industry, offering mentorship, industry exposure, and the opportunity to collaborate with HDFC Life, with a focus on enhancing customer experience, operational efficiency, and risk control through cutting-edge technology.

Benefits

• Work on a Proof of Concept (PoC) with HDFC Life to solve business challenges. Successful PoCs may lead to a contract with HDFC Life for integration into HDFC Life's ecosystem giving your startup unparalleled business exposure.
• Gain mentorship from industry leaders and HDFC Life's experienced team for strategic insights to navigate the insurance sector and refine your innovation.
• Opportunity to scale your technology with industry-grade support post successful PoC
• Possible access to HDFC Life's premises for interactive ideation sessions and workshops at SINE. These engagements provide a platform to network with like-minded peers, industry experts, and innovators, offering insights into emerging trends and best practices for startups.

Eligibility Criteria

• Startups with a working MVP or prototype addressing specified problem statements: 1️⃣Seamless customer proposal document procurement, management and authentication ; 2️⃣Digital Medical Assessments
• ; 3️⃣Income Proof Alternatives for Financial Eligibility
• ; 4️⃣Customer Profile Visibility – one lens – customer information across systems;Data Reconciliation
• Your start-up must have a working prototype or a Minimum Viable Product (MVP). Tech agnostic compatibility and flexibility.
• Showcase market validation through pilot programs, early traction, or initial users. Your solution should be ready to scale.
• Start-ups must be registered entities as per DPIIT. There should not be any background of legal charges for the start-ups or its members. Start-ups with a significant market presence in India are welcome. In case start up is from foreign countries, it needs to adhere to all the compliances applicable in India
• A dedicated team with at least two co-founders or core members, equipped with complementary skills and a clear vision. The team should have members with complementary skills such as tech, design and business. In case the startup has members connected with HDFC Life in any business capacity, it should be declared, the further steps will be at the discretion of SINE & HDFC Life
• Prior experience in BFSI, healthcare or relevant industry segment ; Core members familiar with insurance segment; Compliance to data privacy and DPDP act